Nuveen All-american Correlations

FAARX Fund

USD 10.15 0.01 0.1%

The current 90-days correlation between Nuveen All American and Bbh Intermediate Municipal is 0.21 (i.e., Modest diversification). The correlation of Nuveen All-american is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nuveen All-american Correlation With Market

Average diversification

The correlation between Nuveen All American Municipal and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen All American Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nuveen All American Municipal. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nuveen Mutual Fund

0.99	FACCX	Nuveen All American	Pair Corr
0.7	FSCCX	First American Investment	Pair Corr
0.69	FSCWX	Nuveen Small Cap	Pair Corr
0.61	FSEIX	Nuveen Mid Cap	Pair Corr
1.0	FTLRX	Nuveen Louisiana Mun	Pair Corr
0.99	NAWSX	Nuveen California High	Pair Corr
0.94	NSIOX	Nuveen Strategic Mun	Pair Corr
0.61	NSMAX	Nuveen Nwq Smallmid	Pair Corr
0.98	FDCCX	Nuveen North Carolina	Pair Corr
0.73	ARSTX	Nuveen Small Cap	Pair Corr
0.98	NCHAX	Nuveen California High	Pair Corr
0.62	NVLIX	Nuveen Winslow Large	Pair Corr
0.67	FISGX	Nuveen Mid Cap	Pair Corr
0.99	NHCCX	Nuveen High Yield	Pair Corr
0.99	NHMRX	Nuveen High Yield	Pair Corr
0.94	FLTDX	Nuveen Limited Term	Pair Corr
1.0	NMTRX	Municipal Total Return	Pair Corr
0.99	VWLTX	Vanguard Long Term	Pair Corr
0.99	VWAHX	Vanguard High Yield	Pair Corr
0.9	VWALX	Vanguard High Yield	Pair Corr
0.89	FSMUX	Strategic Advisers	Pair Corr
0.9	VWLUX	Vanguard Long Term	Pair Corr
0.9	FAFTX	Franklin Federal Tax	Pair Corr
0.98	FFTQX	Franklin Federal Tax	Pair Corr
0.97	FKTIX	Franklin Federal Tax	Pair Corr
0.9	FRFTX	Franklin Federal Tax	Pair Corr
0.9	FFQAX	Franklin Federal Tax	Pair Corr

Related Correlations Analysis

	BBINX	HMJFX	MDMTX	LGRXX	LCPMX	PCMNX	GABTX	BMBSX
BBINX		0.72	0.9	0.0	0.9	0.91	0.63	0.92	BBINX
HMJFX	0.72		0.74	0.0	0.71	0.73	0.28	0.77	HMJFX
MDMTX	0.9	0.74		0.0	0.97	0.98	0.67	0.98	MDMTX
LGRXX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	LGRXX
LCPMX	0.9	0.71	0.97	0.0		0.97	0.63	0.97	LCPMX
PCMNX	0.91	0.73	0.98	0.0	0.97		0.67	0.99	PCMNX
GABTX	0.63	0.28	0.67	0.0	0.63	0.67		0.67	GABTX
BMBSX	0.92	0.77	0.98	0.0	0.97	0.99	0.67		BMBSX
	BBINX	HMJFX	MDMTX	LGRXX	LCPMX	PCMNX	GABTX	BMBSX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BMBSX	+ 0.99	PCMNX
PCMNX	+ 0.98	MDMTX
BMBSX	+ 0.98	MDMTX
LCPMX	+ 0.97	MDMTX
PCMNX	+ 0.97	LCPMX
BMBSX	+ 0.97	LCPMX

High negative correlations

BMBSX	- 0.0	LGRXX
GABTX	- 0.0	LGRXX
PCMNX	- 0.0	LGRXX
LCPMX	- 0.0	LGRXX
LGRXX	- 0.0	MDMTX
LGRXX	- 0.0	HMJFX

Risk-Adjusted Indicators

There is a big difference between Nuveen Mutual Fund performing well and Nuveen All-american Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nuveen All-american's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBINX	0.14	0.00	(0.27)	0.87	0.17	(0.20)	0.30	(0.29)	1.27
HMJFX	0.06	0.00	(0.41)	0.25	0.00	(0.12)	0.10	(0.10)	0.61
MDMTX	0.19	0.00	(0.20)	0.06	0.25	(0.26)	0.48	(0.56)	1.72
LGRXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LCPMX	0.18	0.00	(0.16)	0.15	0.26	(0.24)	0.45	(0.45)	1.70
PCMNX	0.15	0.00	(0.25)	0.05	0.22	(0.17)	0.25	(0.33)	1.32
GABTX	0.57	(0.03)	(0.08)	0.01	1.09	(0.49)	0.98	(1.23)	4.71
BMBSX	0.12	0.00	(0.29)	(0.01)	0.17	(0.15)	0.27	(0.27)	1.06

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